World
'Our Bill Has Reached $800 Million': Shehbaz Sharif Says US-Iran War Is Battering Pakistan's Economy
Prime Minister Shehbaz Sharif on Wednesday warned that the ongoing US-Iran war has sharply undercut Pakistan’s fragile economic recovery, with surging oil prices pushing the country’s import bill to nearly $800 million. Addressing a Cabinet meeting, he said the conflict has erased key gains made over the past two years, even as Islamabad steps up diplomatic efforts to defuse tensions in West Asia. Sharif noted that while the spike in energy costs has strained the economy, a recent dip in domestic petroleum consumption offers limited relief.
Shehbaz said a task force is monitoring the situation daily, according to an official statement, Reuters reported. He said collective efforts are needed to tackle the challenges. Apprising the Cabinet about the progress made in the US-Iran talks and Pakistan’s efforts to ease tensions in the region, Shehbaz said Islamabad made sincere efforts to promote regional stability.
He highlighted that marathon talks between Iran and the US held in Islamabad on April 11 lasted for 21 hours and marked a significant diplomatic breakthrough.
What Sharif said on the Iran-US ceasefire
Sharif said Pakistan made sincere and coordinated efforts for the success of the negotiations, with contributions from Field Marshal Asim Munir, Deputy Prime Minister/Foreign Minister Ishaq Dar, and other senior officials. As a result of these efforts, he noted, the ceasefire between Iran and the United States was extended and continues to hold.
The prime minister informed the cabinet that Iranian Foreign Minister Abbas Araghchi visited Pakistan with his delegation and held multiple rounds of talks, including a two-hour session with him. He said Araghchi assured that Iran would respond positively after consultations with its leadership.
“Before the Iranian foreign minister visited Russia, I spoke with him on the phone, in which he assured me that all his meetings in Oman were held with sincerity of intent, and after consultation with his leadership…he will give a positive response soon,” he said while talking about Araghchi’s whirlwind visits to Islamabad, Muscat and Moscow over the weekend, according to Reuters.
He expressed hope that the conflict would end soon.
Pakistan plans to host a second round of talks between the United States and Iran. The Iranian minister made two brief visits to Pakistan within 48 hours over the weekend, meeting with Field Marshal Munir and PM Shehbaz to discuss the regional situation.
Last week, Trump extended the two-week ceasefire with Iran indefinitely to give Tehran more time to prepare a unified proposal to end the war.
(With agency inputs)
